The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.
© KYODO
Yen sharply rebounds against dollar amid suspected intervention
SINGAPORE/TOKYO©2025 GPlusMedia Inc.
The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.
© KYODO
42 Comments
Login to comment
fxgai
He needs a new pair of specs
nero
So they placed the tripwire at 150 and 160. So much for "we're not defending a line but trying to reduce volatility".
Victor
They need to give one time tax benefits to corporates for repatriating money from abroad to really make yen stronger.
smithinjapan
"BOJ Governor Kazuo Ueda said at a press conference after the meeting that he currently sees no major impact of the yen's recent sharp decline on prices, even as a weaker yen raises the cost of imports."
A good hard slap in the face might clear his eyes. If he can't see it, he's choosing not to.
リッチ
Intervention will bring with it a recession and continued rapid decline of the economy.
DDK
150 yen and 160 yen per dollar are 6.7% difference. How could this not affect people? How about one reduces their salary by 6.7%: does it affect them?
DDK
Plus I don’t get this constant chase of higher inflation. How do they measure it? Because I’ve seen quite sizable price increases compared to two years ago, so the constant 2% that they bring up makes me think that they’re using the wrong calculation method.
kibousha
The market has successfully "probe" what the BOJ has in mind. An automatic computer program, triggered when yen reaches 160, to sell dollar reserves.
gogogo
Currency manipulator, goes against free markets, who cares when you are handing money to Forex traders.
fxgai
Speculators are the reason why you can buy foreign currency when you want to. Speculation is a social good.
fxgai
The MoF decides on currency intervention, not the BOJ.
It wasn’t automatic. It was like 2 hours after breaching 160 that the apparent intervention commenced.
The MoF is always saying that they don’t defend specific levels, but are more concerned about volatility.
(it’s a ruse really since the intervention causes more volatility than the initial market price move.)
I took the opportunity presented today to sell some more yen at better rates, given that I think the MoF always gets it wrong with these dopey intervention moves.
If the MoF wants to stabilize the currency it should put a lid on out of control spending. Not burn through dollar reserves.
kurisupisu
Japanese govt manipulation of its currency won’t work when there is a huge interest rate disparity between the dollar,pound and the euro etc.
I expect the yen to begin to plummet again, real soon…
Yamada Taro
The Japanese Government has no idea how many companies that rely on imports are going bust because of the low yen. Why aren't they stepping in to help.
tora
Flogging a dead horse, BOJ.
Geoffrey Fadera
I am curious whether this is a natural reversal of the Plaza Accord.
Abe234
Geoffrey FaderaToday 06:51 pm JST
interesting how after the plaza accord the Japanese economy tanked. Was the plaza accord good for Japan or good for America/Europe?
WoodyLee
200 is the magic number, it's good for everyone.
nandakandamanda
The wife pointed out that this lovely influx of foreign tourists does not bring much benefit to the J govt as everything is tax-free.
For myself I have some savings sitting in yen, and some in other currencies. Now is still a good time to use a cash card from a foreign account for daily expenses. Most ordinary Japanese do not have this option, though.
Rakuraku
nandakandamandaToday 08:34 pm JST
Not entirely true. Tax free is only for purchase above 5,000 JPY.
Sanjinosebleed
Of course they stepped in!
kaimycahl
@kurisupisu Good point China did the exact same thing and look at their economy. They continue to cook the books.
Japanese govt manipulation of its currency won’t work when there is a huge interest rate disparity between the dollar,pound and the euro etc.
I expect the yen to begin to plummet again, real soon…
Chabbawanga
See where this goes with fomc around the corner. Possibly the catalyst the dxy needed to start its correction, hopefully not billions of yen down the toilet.
GBR48
quote: sees no major impact of the yen's recent sharp decline on prices, even as a weaker yen raises the cost of imports.
Because he is rich. And I doubt he does the weekly shopping.
quote: The wife pointed out that this lovely influx of foreign tourists does not bring much benefit to the J govt as everything is tax-free.
Untrue. On all of my visits to Japan only once, when I purchased one small radio in a donki, did I get a few Yen off after being asked for my passport. Everything else I bought, on every trip, food, drink, tickets, transport and souvenirs, I paid the same as Japanese people.
The intervention won't work. No single country has enough leverage. It may have been an attempt due to the level of Yen or the recent election losses.
proxy
It will soon be back at 160 and below.
Mr Goodman
You call that a 'sharp rebound' ? ? ?
Step in and make a real rebound please
Here in Japan we're suffering from constant raising prices and a weak yen
Its pathetic !
Mr Goodman
Japan needs to rise up and be strong
Make the Yen great again
Can you imagine if the yen was stronger than the dollar
Omg omg a superiority dream come true
It's that simple !
therougou
That Mr. Yen guy opened his mouth and said 170 yen so I don't think it'll stop until it gets there at least.
OssanAmerica
Goodman
Where were you in 1995?
nandakandamanda
The beautiful silver one-yen coin was created to be equivalent in value to the Mexican trade dollar and the US dollar.
Sven Asai
That always balances out sooner or later. Either foreign producers now make their products cheaper if they still want to sell something in Japan, then one can buy the same amount although the Yen is currently weak. Or they cannot sell at lower prices and then just can sell nothing anymore due to the poorer buyer who has only that weak Yen. This leads to their economy significantly shrinking and their currency getting weaker or cheaper against the Yen. And voila, it's balanced and silenced again, until the next speculation round with higher volatility begins.
Chibakun
Well, surely hotels, restaurants, amusements, transportation are not tax free
Chibakun
Given that Japan holds the most US debt, surely if they started dumping it, there will be no buyers and we will have a massive global disaster
TaiwanIsNotChina
Yield curve is still negative so there absolutely would be buyers, hopes and dreams notwithstanding.
kurisupisu
@kaimycahl
The difference between Japan and China is that the Chinese have a growing manufacturing base where Japan does not.
Entrepreneurs flock to China not Japan.
Of course, China will manipulate its exchange rates as it is a socialist country but Japan?
Anyway, watch the yen percolate down ….soon
Ed
They're pushing "visit Japan now" here in Australia due to the Yens decline. Only thing is we were there again last November for an extended stay and what advantage we had having a few more Yen in the pocket was taken away by the growing prices for most things. I'd say things have declined further since we were there. Feel for you all there as the BOJ is in a corner and I don't know it can fight its way out without more pain for its people.
Alan Bogglesworth
Jack ma has entered the chat?
this is nonsense Entrepreneurs flock to the west
Mr Goodman
Hello..err..ahem...cough..Mr Ossan that's precisely why i said ' make the yen great again '
Because it used to be
I was in Northern Canada 1995
Hervé L'Eisa
A "dead cat bounce". The cat may have bounced, but it's still dead.
Tell_me_bout_it
72 year old Ueda for you
kurisupisu
@Bogglesworth
Read what I wrote again.
I did not mention the west with its myriad problems with illegal migration which China does not have.
China has built a massive manufacturing base which has allowed it to become the No 2 world economy and this is a reason why China is a target for exporters.This success is why half a million Africans live there and why Japanese nationals make up over 10% of the foreign population in China.
The facts are out there!